Executive Summary

Milk production figures throughout the major dairy exporting regions of New Zealand, the EU-27+UK, the U.S., Australia and Argentina were recently updated with values spanning through Jun ’21. Highlights from the updated figures include:

• Combined milk production within the major dairy exporting regions remained at a record high seasonal level for the 13^th consecutive month throughout Jun ’21, finishing 1.6% above previous year figures. The YOY increase in milk production volumes was the smallest experienced throughout the past four months, however.
• Jun ’21 YOY increases in milk production were led on a percentage basis by Argentina, followed by the U.S., New Zealand and the EU-27+UK. Australian milk production volumes declined on a YOY basis throughout the month.
• Milk production growth throughout the U.S. continued to outpace growth experienced throughout the other major dairy exporting regions for the 11^th consecutive month throughout Jun ’21.

Additional Report Details

Combined milk production within the major dairy exporting regions of New Zealand, the EU-27+UK, the U.S., Australia and Argentina finished 1.6% higher on a YOY basis during Jun ’21, remaining at a record high seasonal level for the 13^th consecutive month. The aforementioned regions combined to account for 90% of global butter, cheese, whole milk powder and nonfat dry milk export volumes throughout 2020.

Combined milk production volumes finished largely flat or lower on a YOY basis over eight consecutive months through Jul ’19, prior to finishing higher throughout each of the past 24 months through Jun ’21. The Jun ’21 YOY increase in combined milk production volumes was the smallest experienced throughout the past four months, however.

Jun ’21 YOY increases in milk production on a percentage basis were led by Argentina (+3.0%), followed by the U.S. (+2.9%), New Zealand (+1.7%) and the EU-27+UK (+0.8%). Jun ’21 milk production volumes declined on a YOY basis throughout Australia (-1.1%). The EU-27+UK produces significantly more milk than the other dairy exporting regions, accounting for over half of the combined production within the five exporting regions throughout Jun ’21.

Excluding the U.S., milk production within the major dairy exporting regions increased by 0.9% on a YOY basis throughout the month of June, remaining below the growth rate exhibited within the U.S. for the 11^th consecutive month.

Additional milk production figures for the month of July have been released for New Zealand and the U.S. Production remained higher throughout each of the two countries.